Albany Medical Center

“AMHS Certificate of Incorporation was amended 3/3/22.”

“The Board of Directors, through its Audit Committee, engages a prominent accounting firm, KPMG, to conduct a review of its tax return for compliance with IRS regulations. The Audit Committee engages KPMG as paid preparer to ensure accuracy of filings and raise for discussion issues or concerns that are considered significant. Issues or concerns are raised with management and brought to the attention of the Audit Committee throughout the year as warranted and required. Our process also includes a review of returns by senior management and a presentation and review of the returns at a meeting of the Audit Committee of the Board of Directors.”

“The Board of Directors of the Albany Med Health System adopted a System-wide Conflict of Interest Policy applicable to all entities over which the Albany Med Health System, directly or indirectly, has direction and control. All candidates for Board membership and Board Committee membership receive a copy of the Albany Med Health System Conflict of Interest Policy and a link to the electronic Conflict of Interest questionnaire for completion. Actual or potential conflicts reported are reviewed by the Committee on Audit and Compliance of the Board of Directors and appropriate action is taken to mitigate conflicts.Upon hire, all employees receive compliance education which explains the Conflict of Interest Policy and the requirement to report any actual or potential conflicts. All employees also receive refresher education regarding the Policy and a reminder about the reporting requirement as part of their mandatory annual education. All employees are responsible for notifying System management of any potential conflicts in addition to responding to request for information if requested. Persons holding significant management positions receive a link to the electronic Conflict of Interest questionnaire for completion. Any conflicts which are reported or discovered are reviewed by the Albany Med Health System Corporate Compliance and Audit Department and appropriate action is taken to mitigate the conflict. Employees who violate the Conflict of Interest Policy are subject to corrective action following the authorized administrative and governance processes of the System and its affiliates.”

“The Compensation Committee of the Board of Directors ("Committee") establishes compensation for the President and Chief Executive Officer of the organization, all Executive Vice Presidents and other top management officials who report directly to the President and Chief Executive Officer, subject to approval by the Board of Directors. The Committee uses professional compensation advisors who are capable of rendering independent advice and independent market surveys. The Committee targets the market median (50th percentile) for cash compensation; benefit programs are intended to be competitive. After the compensation program is determined, the Committee-approved recommendation is forwarded to the Board of Directors for its consideration and approval, and that is contemporaneously substantiated.”

“Documents are made available upon request.”

“Hours reported for Board Members, Officers and Key Employees are average work hours related to this organization and its related organizations. Organizations included in this relationship are Albany Med Health System, Albany Medical Center Hospital, Albany Medical College, Albany Medical Center Foundation, Center for Donation and Transplant, Kidskeller Inc., Better Health for Northeast New York Inc., Columbia Memorial Hospital, Kaaterskill Commons Inc., Columbia Memorial Health Foundation, The Second Show Inc., Saratoga Hospital, Saratoga Regional Medical PC, Saratoga Care Inc., Healthcare Partners of Saratoga LTD. (d/b/a Malta Med Emergent Care or MMEC), Glens Falls Hospital, Glens Falls Hospital Foundation, Albany Visiting Nurse Home Care Services Group, Inc., Visiting Nurse Association of Albany, Inc., and Visiting Nurses Foundation, Inc.”

“OTHER PROGRAM SERVICES 4: Materials Management: Centralized supply related operations for the Albany Med Health System. OTHER PROGRAM SERVICES 5: Other Administrative Support Services: The Albany Med Health System coordinates planning, financial, information and policy direction for our affiliated exempt organizations.”

“Change in fair value of interest rate swaps = $7570178”

“Effect of adoption of provisions of FASB #158 = -$361649”

“KPMG LLP is the paid preparer of this return. Albany Med Health System is not the paid preparer however due to a software limitation we are unable to change the firm name, EIN, address, and phone number in the software. All other information besides firm name, EIN, address, and phone number presented in the Paid Preparer section is correct.”